Boomers are also more downbeat than other adults about the long-term trajectory of their lives – and their children’s.
For example, 68% of Boomers (compared with 56% of all adults) oppose eliminating the tax deduction for interest paid on home mortgages; 80% (compared with 72% of all adults) oppose taxing employer-provided health insurance benefits; and 63% (compared with 58% of all adults) oppose raising the age for qualifying for full Social Security benefits. Our survey work includes questions about family life, personal finances, technology use, aging and a range of other topics.
In fact, the typical Boomer feels nine years younger than his or her chronological age.
On a range of social issues, Baby Boomers are more accepting of changes in American culture and mores than are adults ages 65 and older, though generally less tolerant than the young.
In 1970, when the oldest of the Baby Boomers were in their early 20s, the total publicly held national debt was about 3 billion, or about 28% of the Gross Domestic Product.
Now, as the oldest Boomers approach age 65, the federal debt is an estimated trillion or 62% of GDP – creating IOUs that members of younger generations may be paying down for decades.
Some of this pessimism is related to life cycle – for most people, middle age is the most demanding and stressful time of life.